The announcement comes just days after FOXSports.com’s Adam Cooper reported the team had a “change of heart” and wanted to retain Gutierrez.

“We are pleased Esteban will drive for us in 2014, because we believe he is a talented young racing driver,” said Sauber Team Principal Monisha Kaltenborn. “I am confident Esteban will be able to use his experiences to gain results, and this will be helped by the fact he is very well acquainted with every member of the race team.”

Gutierrez managed to score six points in his rookie season, good enough for 16th in the drivers’ standings and the honor of highest scoring rookie.

“I am happy to be able to continue as a driver for the Sauber F1 Team,” said Gutierrez. “It was a steep learning curve last season, but by working closely with the team I was able to improve continuously.

“The technical challenges in 2014 will be massive. Therefore it will be even more important to know well the people you are working with. I will do my very best to improve even more and support the team the best way I can.”

Russian Sergey Sirotkin, who was originally lined up to replace Gutierrez, will serve as the team’s test driver next season.